People & Markets - All articles

  • Sri Lanka hits back at ratings downgrade

    The Sri Lankan ministry of finance has responded to a Fitch rating downgrade by saying that the country does not ‘accept’ the decision, and has in place a policy framework to tackle its debt obligations and spur economic growth.

    • 09.15 AM
  • Taylor in, Rozes out

    Remember Algomi? It's a fintech for bond trading that was bought by interdealer broker BGC Partners earlier this year.

    • 07.00 AM
  • The week in review: China posts strong November PMIs, Stock Connect expanded, US to add SMIC, Cnooc to investment blacklist

    In this round-up, the official manufacturing and services Purchasing Managers’ Indexes reach multi-year highs, the bourses in Hong Kong, Shanghai and Shenzhen add pre-revenue biotech companies listed in Hong Kong as well as Star market shares to the Stock Connect programme, and four more Chinese companies will be added to a US list of firms with alleged military ties.

    • 06.00 AM
  • Green bonds are bad? Wealth is luck? Viruses are good?

    This week in Keeping Tabs: a proposal to replace green bonds with certificates, the dramatic consequences of low rates, and a different side to viruses.

    • 27 Nov 2020
  • Sabadell bonds battered after BBVA merger talks end

    Banco de Sabadell’s debt securities took a nose-dive in the secondary market on Friday morning, after the Spanish lender said that it had failed to agree on the terms of a merger with BBVA.

    • 27 Nov 2020
  • China policy and markets round-up: Baoshang Bank to start bankruptcy proceedings, Beijing, Hong Kong to expand Stock Connect, India bans more Chinese apps

    In this round-up, China’s banking and insurance regulator decides to allow beleaguered Baoshang Bank to go bankrupt, Hong Kong’s chief executive says pre-profit biotech stocks and some Star companies will be added to the Stock Connect programme, and India moves to ban another 43 China-based mobile applications.

    • 27 Nov 2020
  • UK infra investment needs more credibility, not more capital

    There is every reason to be sceptical of the UK’s plan for a national infrastructure bank. Infrastructure is hard to finance because governments are unreliable. Combining hard assets expected to pay back over 30 years with democratic governments that change course every few makes private investors reluctant to treat long-term infra projects as a pure matter of credit risk.

    • 27 Nov 2020
  • Jumble of ESG standards groups begins to clear as two merge

    The first move has been made to consolidate the alphabet soup of industry bodies that try to raise standards in corporate reporting on environmental, social and governance issues — an essential feedstock for responsible investing. More mergers are likely as the private sector races to strengthen its influence before regulators take control.

    • 26 Nov 2020
  • Enel seeks pivot in EU Green Deal aid

    Enel is planning €10bn of extra renewable energy investment in Europe, as a result of the support it hopes to get from the European Union’s €750bn recovery fund. But it believes the EU should refine its aid to subsidise sustainable finance more directly.

    • 26 Nov 2020
  • Green experts hopeful on new UK infra bank

    A new UK national infrastructure bank, announced by the government on Wednesday, is set to be up and running quickly, although details remain thin on the ground. While framed around infrastructure, a big part of its mandate could relate to the country's net zero carbon plans.

    • 26 Nov 2020
  • MUFG seeks model change in quest for growth

    MUFG is overhauling personnel and its business model to try to escape a cycle of low returns, writes David Rothnie.

    • 26 Nov 2020
  • Mnuchin deepens Thanksgiving chill by calling time on Fed bond support

    US corporate bond bankers predict a final flurry of issuance before year end, though there have been no deals this week ahead of the Thanksgiving holiday, and after treasury secretary Steven Mnuchin moved to stop some quantitative easing.

    • 26 Nov 2020
  • Basel Committee takes edge off toughest part of NPL proposals

    The Basel Committee has backed down from tough new changes which could have raised the costs of financing non-performing loan portfolios, allowing banks to use external ratings to assess the risk of NPL securitizations.

    • 26 Nov 2020
  • People moves in brief

    MSCI picks up Nick Mihic — Algomi co-founder Stuart Taylor joins MUFG — Vinod Vasan changes roles at UBS

    • 26 Nov 2020
  • ECB warns of ‘abrupt increase’ in bank funding costs

    The European Central Bank has warned that some banks face a sharp spike in the cost of their bond funding, as the economic fallout from the coronavirus pandemic begins to translate into credit rating downgrades.

    • 26 Nov 2020
  • ESMA picks trio of candidates to be next chair

    The European Securities and Markets Authority (ESMA) has sent three names to the European Council and the European Parliament as candidates to be its next chair, replacing Steven Maijoor.

    • 26 Nov 2020
  • China Evergrande ends investor saga, adds SOEs

    China Evergrande Group got some relief from recent selling pressure this week, after convincing a large group of equity holders not to exercise a put option. It also signed up two new state-backed investors.

    • 26 Nov 2020
  • Natixis names new DCM head

    Natixis has named a new head of debt capital markets for Asia Pacific, following Kenneth Lee's move from the bank to Mizuho earlier this year.

    • 26 Nov 2020
  • Fitch appoints Paladino as North America head of structured finance

    Fitch Ratings appointed Michael Paladino as the new head of structured finance for North America, its latest update from a global reshuffle.

    • 25 Nov 2020
  • EBA gives hope to SRT market

    The European Banking Authority has lifted the spirits of those working in the significant risk transfer (SRT) market by suggesting that call options and early termination rights should not disqualify a transaction from achieving SRT recognition, pushing back on proposals made by European Parliament members.

    • 25 Nov 2020
  • ESMA: no change to derivs trading rule

    As market participants prepare for the end of the Brexit transition period on December 31, the European Securities and Markets Authority has said it will not change requirements on where derivatives can be traded, even though this could cause problems for UK branches of EU investment firms.

    • 25 Nov 2020
  • MREL is a paradox for small UK banks

    Little lenders are being pushed closer to collapse in the UK by rules that were supposed to make them more resilient. The Bank of England should take note.

    • 24 Nov 2020
  • Now is not the time to rush an ESG securitization framework

    An ESG framework for the European securitization market is a noble aim but the middle of this pandemic is not the time to implement it. The European Parliament needs to take its time and make sure such a regime is built to last, and not throw it in alongside emergency legislation.

    • 24 Nov 2020
  • Student loan relief leaves market worried

    Student loan forgiveness has been one of the main pillars of US president-elect Joe Biden’s election campaign, worrying student loan securitization specialists in the sector since early this year. With Democrat Biden’s inauguration around the corner, market participants are scrambling to prepare for new regulations that could impact their student loan ABS investments.

    • 24 Nov 2020
  • Ex-JP Morgan equity derivs banker joins MSCI

    MSCI has hired Nick Mihic as head of client coverage for Germany, Austria and Switzerland.

    • 24 Nov 2020
  • FCA rolls out STS deal list ahead of Brexit

    The UK’s Financial Conduct Authority has launched a new platform dedicated to listing all securitizations which qualify as ‘simple, transparent and standardised’, preparing the UK securitization market for the end of the Brexit transition period.

    • 24 Nov 2020
  • MUFG hires Algomi co-founder for trading role

    Stuart Taylor, who helped set up bond market data business Algomi, has joined MUFG's global markets business as head of electronic trading.

    • 24 Nov 2020
  • UBS's Vasan steps into global banking position

    Vinod Vasan is set to become vice-chairman of global banking at UBS, moving on from a job he was handed only seven months ago as vice-chairman of EMEA debt capital markets.

    • 24 Nov 2020
  • Mirabaud hires new head of Swiss equities

    Mirabaud Asset Management, the investment arm of the Mirabaud Group, has hired a new head of Swiss equities to replace Paul Schibli who is retiring in 2021.

    • 24 Nov 2020
  • Bots prepares 2021 launch for DCM platform

    Bond Origination Technologies (Bots), a new tech company that aims to automate pricing indications in the primary debt capital markets, has completed an initial fundraising round and formed an advisory board ahead of a launch next year. GlobalCapital spoke to the founders to find out more about the product.

    • 24 Nov 2020
  • Chinese bonds stable amid regulatory noise, repayment promises

    Chinese domestic bond investors got a break from a wave of recent selling pressure this week, after a statement from a powerful financial regulator and a repayment pledge from one beleaguered issuer. But high-profile defaults continue.

    • 24 Nov 2020
  • Schroders targets pandemic opportunity

    Schroders has closed a new private credit fund, which will use a mix of securitized bonds, warehouse lines, direct loans and other instruments to target dislocated opportunities as the impact of the Covid-19 pandemic plays out in credit markets.

    • 23 Nov 2020
  • The week in review: China extends $2.1bn in debt relief to developing countries, top regulators vow ‘zero tolerance’ on misconduct after defaults

    In this round-up, Beijing says it has suspended $2.1bn in debt payments from two dozen nations under the G20 framework, and the top Chinese financial regulators send strong signals to the onshore market in the wake of a string of domestic bond defaults.

    • 23 Nov 2020
  • Indian regulator plans cut to minimum float for chunky IPOs

    India’s securities regulator has proposed slashing the minimum required share offering of large IPOs, helping the country’s biggest companies comply with listing rules.

    • 23 Nov 2020
  • Goldman changes UK IB and ECM leadership

    Goldman Sachs has appointed new heads of its UK investment banking and EMEA equity capital markets businesses.

    • 20 Nov 2020
  • P&M Notebook: a liking for the law

    It’s a widespread belief in capital markets that kicking up a fuss is a good way to make sure you never work in the industry again. Whatever you take out of your employer by way of a whistleblowing case or an employment tribunal had best set you up for a life away from the markets because that is supposedly where your life will be.

    • 20 Nov 2020
  • Brexit lost in translation, pandemic support lost in transition

    This week in Keeping Tabs: US treasury secretary Steven Mnuchin asks the Fed to give back emergency funding, bond markets prove their real worth, and why Brexit negotiators need to realise that English isn’t the only language.

    • 20 Nov 2020
  • DirectBooks launches communications platform for corporate bonds

    DirectBooks, led by nine global investment banks, has announced the launch of its core service to streamline communications in the primary issuance process for corporate bond deals.

    • 20 Nov 2020
  • Sunak looks at new listing rules for LSE to rival Nasdaq

    UK chancellor of the exchequer Rishi Sunak is looking at ways to relax listing rules on the London Stock Exchange to make the exchange more attractive for tech company IPOs.

    • 20 Nov 2020
  • China policy and markets round-up: Nafmii tightens bond regulations, Yongcheng Coal investigation broadens, Chinese holding of UST hits three-year low

    In this round-up, the interbank bond market regulator announces stricter rules for domestic bond issuance, the investigation into firms linked to a defaulted state-owned issuer widens, and China reduces its holding of US Treasury bonds for four straight months.

    • 20 Nov 2020
  • ISS and Deutsche Börse: unlikely bedfellows?

    In the US, stock exchanges have clashed with proxy advisers. Now, those exchanges' German peer Deutsche Börse has bought a majority stake in one of the major advisers, ISS — but says it will ensure the latter's independence.

    • 19 Nov 2020
  • EU braces for ‘game of chicken’ over recovery fund

    The European Union faces its bitterest internal conflict yet, with member states drawing battle lines over the receipt of EU funds becoming dependent on states adhering to the rule of law. The conflict risks delaying or sinking the EU’s recovery fund, but capitulating would weaken its ability to oversee how the money is used, writes Lewis McLellan.

    • 19 Nov 2020
  • Rolls-Royce lands cash call after flight risk

    UK aerospace company Rolls-Royce managed a smooth landing for its mid-pandemic equity raise despite turbulence within its inner circle of advisers. It was a triumph for strong management, writes David Rothnie.

    • 19 Nov 2020
  • People moves in brief

    Goldman IBD heads: Lemkau out, Esposito in — UBS whistleblower hired by Therium — New Nordic bosses at Citi's BCMA

    • 19 Nov 2020
  • Market pushes back on ‘rushed’ ESG criteria for securitization

    The securitization market is pushing back against proposals in the European Parliament to tack a green framework for ABS deals onto existing discussions about NPL and synthetic securitizations that were supposed to be rapid-fire amendments to help the market fight off Covid-induced economic woes. Tom Brown reports.

    • 19 Nov 2020
  • Calabria pushes pedal on GSE reform before Biden takes office

    The Federal Housing Finance Agency (FHFA) issued its final capital rule on Wednesday, mandating more capital for Fannie Mae and Freddie Mac to ensure they exit conservatorship on a ‘sound capital footing’. The agency’s progress towards privatisation could be limited by the likelihood that President-elect Joe Biden will switch out FHFA boss Mark Calabria for a Democratic pick.

    • 19 Nov 2020
  • SCIO Capital reunites Deutsche ABS veterans with new advisory board

    Investment firm SCIO Capital has appointed three ABS professionals to its newly founded advisory board, reuniting a group of Deutsche Bank veterans who worked at the bank in the early 2000s.

    • 19 Nov 2020
  • ECB: small banks vulnerable to withdrawal of Covid relief

    The European Central Bank revealed this week that 10 small banks would be operating below their regulatory capital requirements if they hadn’t made use of transitional support measures during the coronavirus crisis.

    • 19 Nov 2020
  • Spanish, UK bank deal-making heats up

    The banking landscape in Spain and the UK is set to change, amid pressure on banks' profitability, after a flurry of announcements this week.

    • 19 Nov 2020
  • New bid to solve bank carbon footprint enigma

    An accounting standard was launched on Wednesday that could prove a major step forward in how banks and investors calculate their contributions to climate change, and their progress towards net zero emissions.

    • 19 Nov 2020
  • Deutsche Börse advances in ESG with ISS buy

    Deutsche Börse has beefed up its offering in sustainable finance and corporate governance services through purchasing a majority stake in ISS, the ESG data and analytics provider.

    • 18 Nov 2020
  • 'US direct lending saturated,' says Pemberton

    Symon Drake-Brockman, the founder and managing partner of European direct lender Pemberton Asset Management, thinks that the US direct lending market has matured to such an extent that further growth is tricky, whereas Europe still has fruitful opportunities ahead.

    • 18 Nov 2020
  • Laskshmi Vilas set to merge with DBS India

    Lakshmi Vilas Bank is set to merge with DBS Bank’s operations in India, under a central bank plan to save the cash-strapped local lender.

    • 18 Nov 2020
  • Gold bugs boosted banks' precious metals desks

    As investors sought gold and silver as a hedge against inflation and uncertainty, investment banks with the capabilities to act in these markets benefitted. Some made more than $100m in precious metals in the third quarter, according to Coalition Greenwich.

    • 18 Nov 2020
  • UK’s green plan slammed for lack of funding

    Boris Johnson, UK prime minister, announced on Tuesday night a 10 point plan for the environment, including phasing out petrol cars by 2030. But policy specialists are disappointed that the plan lacks financing commitments and especially that there is no announcement of a national investment bank.

    • 17 Nov 2020
  • Poland and Hungary block EU recovery fund over rule of law

    The EU recovery fund has hit a major obstacle in its journey to capital markets. Hungary and Poland have vetoed the "own resources decision", which would allow the EU to access the bond market on its own account.

    • 17 Nov 2020
  • Esposito to replace Lemkau at Goldman's IBD

    Gregg Lemkau is leaving Goldman Sachs at the end of the year and will head up an alternative investment firm linked to tech entrepreneur Michael Dell. Jim Esposito will take over as joint head of the investment banking division at Goldman.

    • 17 Nov 2020
  • Banker who took UBS to court is hired by litigation funder

    Ben Smyth, the whistleblower and former debt capital markets banker who took UBS to court, has been hired as an investment officer by the litigation funder Therium Capital.

    • 17 Nov 2020
  • FSB calls for policies to address non-bank risk

    The Financial Stability Board has said that it will look at policies to address systemic risk when it comes to financial intermediation involving non-banks, as it seeks to learn lessons from the market meltdown at the cusp of the coronavirus crisis in March.

    • 17 Nov 2020
  • BBVA bonds soar amid sale of US subsidiary

    BBVA said on Monday that it had reached an agreement to sell its US subsidiary to PNC Financial Services. The Spanish bank’s bonds rallied sharply on the news of the deal, which will increase its main capital ratios by as much as 300bp.

    • 16 Nov 2020
  • Citi picks Ingemarsson and Stiris as Nordic BCMA heads

    Lars Ingemarsson and Alex Stiris have been named co-heads of the Nordic region for Citi's banking, capital markets and advisory division (BCMA).

    • 16 Nov 2020
  • The week in review: China signs free trade deal with Apac countries, regulator loosens insurers’ equity investment restrictions, AllianceBernstein seeks mutual fund licence

    In this round-up, 15 countries in Asia Pacific seal one of the largest ever trade agreements, China’s banking and insurance regulator relaxes rules for equity investments by insurers, and AllianceBernstein Hong Kong eyes a mutual fund licence onshore.

    • 16 Nov 2020
  • Optimism and gloom

    Last week's update from Pfizer and BioNTech about their vaccine candidate appears to have galvanised bank investors. The Euro Stoxx Banks index was up 17% on Friday afternoon, compared with where it started the week.

    • 16 Nov 2020
  • The Biden vintage, the brains behind the vaccine, REIT-bank linkage, climate action for debt shrinkage

    This week in Keeping Tabs: what a Biden administration means, the people behind the BioNTech vaccine, the link between commercial property and bank equity, and a proposal for dealing with debts in poor countries.

    • 13 Nov 2020
  • Old Lady could lean in for post-Brexit regulatory KISS

    KISS: the new acronym touted by Sam Woods, chief executive of the Prudential Regulation Authority, in a speech given at Mansion House on Thursday, proposes that regulatory requirements should “keep it strong and simple” after Brexit.

    • 13 Nov 2020
  • TLTRO participation weighs on bank MREL ratios

    Regulatory debt ratios are declining at some euro area financial institutions as a result of their participation in the European Central Bank’s targeted longer-term refinancing operations (TLTROs) this year.

    • 13 Nov 2020
  • China policy and markets round-up: CPI inflation drops to decade low, Beijing vows better Sino-Italian financial co-operation, regulator drafts rules to rein in internet monopolies

    In this round-up, October headline Consumer Price Index (CPI) inflation hits a 11-year low, the Chinese and Italian finance ministers promise to work on the two-way opening up of the countries’ financial markets, and the top market watchdog readies anti-monopoly rules for the internet sector.

    • 13 Nov 2020
  • JPM hires Asia real estate head

    JP Morgan has hired Rita Chan as head of real estate investment banking for Asia ex-Japan.

    • 13 Nov 2020
  • By losing Brexit finance battle, UK may have won war

    The UK this week abandoned hope of winning a mutual deal on financial regulation equivalence with the EU, and did what many had expected: unilaterally granted European firms access to the UK’s market without gaining matching rights for UK firms. But although this looked like surrender, lawyers believe the UK might have the upper hand.

    • 12 Nov 2020
  • UK’s Gilt and Taxonomy plans spark hopes of green bond surge

    The UK’s announcement that it would begin issuing green Gilts next year is raising hopes that it will inspire more green bond issuance from UK borrowers. But market participants are eager to see how the UK handles setting up a green debt programme and its own green taxonomy. Lewis McLellan and Jon Hay report.

    • 12 Nov 2020
  • Commerz sees trade green shoots as vaccine update boosts stock

    Commerzbank has endured a tough year but, with a new strategy on the way, loan impairments lower than at many peers, and executives seeing an uptick in its trade finance business, the worst may be behind it.

    • 12 Nov 2020
  • ‘The US is back’: hopes of Biden multilateral boost grow

    A Joe Biden White House offers an opportunity for international and regional multilateral financial institutions to lobby for extra financing to deliver essential assistance to countries hit by Covid-19, according to experts.

    • 12 Nov 2020
  • Jefferies' European IB engine starts to purr

    Jefferies has enjoyed a record year in European investment banking, powered by equity capital markets, writes David Rothnie.

    • 12 Nov 2020
  • People moves in brief

    BTIG hires Hugo Clark — Floris Hovingh joins A&M

    • 12 Nov 2020
  • Lagarde implies yield compression is official ECB policy

    One of the European Central Bank's outright aims is to suppress government bond yields, ECB president Christine Lagarde hinted in a keynote speech on Wednesday.

    • 12 Nov 2020
  • People and markets news in brief: November 12, 2020

    StanChart's Sameer Chandra has died — ICBC Asia syndicate boss leaves — RHB names two senior posts — UBS chooses India head — StanChart's Robins retires — HKMA, IFC team up for green finance

    • 12 Nov 2020
  • EU auditor: CMU ‘results still to come’

    The European Court of Auditors has said that the EU’s Capital Markets Union still needs a lot of work and that obstacles to capital flowing across borders often relate to national laws. It also did not see signs of growth in the securitization market.

    • 12 Nov 2020
  • Parliament passes securitization ‘quick fixes’

    The European Parliament voted on Tuesday to pass a package of amendments to the securitization framework aimed at freeing up bank balance sheets and increasing lending to the real economy. The so-called "quick fixes" were left largely unchanged, helping the proposals push quickly on to the trilogue process.

    • 11 Nov 2020
  • JP Morgan falls from the top spot on G-SIB list

    US banks have fared well in the Financial Stability Board’s latest assessment of firms' systemic importance, with JP Morgan no longer standing out as the riskiest bank in the world.

    • 11 Nov 2020
  • Sweden suggests profitable banks could resume dividends in 2021

    The Swedish Financial Supervisory Authority (FSA) said on Wednesday that it would be "reasonable" for some profitable banks to go back to paying dividends from next year, so long as the economy recovers from pandemic restrictions.

    • 11 Nov 2020
  • Ex-UBS trader Clark joins BTIG

    BTIG, a capital markets trading, research and brokerage services firm, has hired Hugo Clark, the latest in a series of London-based hires it has made.

    • 11 Nov 2020
  • Sampo starts disposal of Nordea stake following activist pressure

    Finnish financial services group Sampo has begun cutting its stake in Nordea, one of the Nordic region’s biggest banks, following pressure from Elliott International, the activist hedge fund, to simplify its business.

    • 11 Nov 2020
  • StanChart’s south Asia loan syndicate head has died

    Sameer Chandra, regional head of loan syndications for south Asia at Standard Chartered, has passed away.

    • 11 Nov 2020
  • Corporate disclosure shouldn’t be outsourced to stock markets

    UK chancellor Rishi Sunak’s announcement that large UK companies, whether listed or private, would need to make climate-related disclosures, was a step towards an important principle — that corporate transparency is a public good, and should be driven by governments, not listing authorities.

    • 10 Nov 2020
  • ECB could copy Japan's special rates for reforming banks

    The Bank of Japan has said that it will pay extra on reserves deposited by banks that become more cost efficient or that merge. A similar policy could well be introduced in Europe too, although perhaps with different aims.

    • 10 Nov 2020
  • Retained covered bonds exacerbate liquidity risks

    The ease with which banks have been able to deploy retained covered bonds for repo funding with central banks has aggravated liquidity risks and undermined regulations that were designed to shore up liquidity management practices exposed as inadequate during the 2008 financial crisis.

    • 10 Nov 2020
  • Covid-19 will reshape US student debt more than Biden

    US president-elect Joe Biden’s student debt relief plan is a dialled down version of what Democratic candidates were proposing on the campaign trail in the run up to the 2020 election. But rather than focus on the incoming president’s priorities, observers should be thinking about the lasting impact of the Covid-19 pandemic on the $1.6tr of outstanding student debt.

    • 10 Nov 2020
  • ECB slashes carbon-heavy corporate bond buying in October but no trend yet

    The European Central Bank cut in October the share of corporate bonds it bought that have lower ESG ratings, according to analysis from ABN Amro, leading some bankers to predict less technical support to come for parts of the corporate bond market.

    • 10 Nov 2020
  • Créd Ag shares in capital markets uplift

    Crédit Agricole benefitted from brisk capital markets activity in the third quarter, its results on Tuesday showed, while it has also set up a private investment banking division for wealthy individuals and families.

    • 10 Nov 2020
  • Pushing EU loans is no job for the ECB

    Yves Mersch, one of the ECB governing council’s staunchest hawks, has a new argument for why the central bank must abridge its purchase programmes: by keeping down the borrowing costs of the eurozone periphery, the ECB is helping countries to “circumvent EU loans”, which he thinks should not be allowed to happen.

    • 10 Nov 2020
  • ICBC Asia loses syndication head

    Industrial and Commercial Bank of China (Asia)’s syndication and structured finance head has left the lender.

    • 10 Nov 2020
  • RHB makes two senior appointments

    Malaysia’s RHB Banking Group has made two senior appointments at the firm.

    • 10 Nov 2020
  • UK seeks to regain green edge with Gilts, own Taxonomy, TCFD rule

    The UK will issue its first green Gilts next year, create its own Taxonomy of green activities and oblige large companies and investors to report as recommended by the Task Force on Climate-Related Financial Disclosures by 2025, the chancellor of the exchequer Rishi Sunak said on Monday.

    • 09 Nov 2020
  • Alvarez & Marsal builds up private debt advisory with Deloitte hire

    Professional services firm Alvarez & Marsal has hired a senior figure from Deloitte to help grow its debt advisory business in European private credit.

    • 09 Nov 2020
  • Société Générale to cut 640 jobs

    Société Générale said on Monday that planned "adjustments and optimisations" should lead to a net reduction of around 640 posts in France, as it changes its structured products business and mulls altering securities services too.

    • 09 Nov 2020
  • Money for old rope

    Weather prophets in Europe’s capital markets can feel a chill coming — banks’ loan books may wither on the vine. A few people — and firms — will be in their element.

    • 09 Nov 2020
  • Biden win triggers positive market reaction in Asia

    Asia’s capital markets started on a positive note on Monday following Joe Biden’s presidential election victory in the US.

    • 09 Nov 2020
  • UBS appoints India country head

    UBS has tapped Uday Odedra as its new India country head, effective next year.

    • 09 Nov 2020
  • The week in review: Chinese banks sacrifice profits, PBoC publishes financial stability report, October forex reserves drop

    In this round-up, China’s financial system gives up Rmb1.25tr ($190bn) in profits to support the real economy, the central bank releases its annual financial stability report, and the country’s foreign exchange reserves by the end of October miss forecast.

    • 09 Nov 2020
  • Meet the (probable) next US president

    Many have heard of Frost/Nixon, a great play — and later a film — based on the real interviews David Frost did with US president Richard Nixon after his impeachment and resignation. But here's a 1987 BBC interview by David Frost with Joe Biden, before his first tilt at the presidency.

    • 06 Nov 2020